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Korea Herald
10-06-2025
- Automotive
- Korea Herald
Posco Future M advances supply chain independence with new precursor plant
Facility aims to meet rising demand for China-independent battery materials amid shifting US trade policies Korean battery material manufacturer Posco Future M officially opened its new precursor plant Tuesday in Gwangyang, South Jeolla Province, marking a key step in its efforts to build a self-sufficient supply chain. 'The completion of this precursor plant, following Posco Group's establishment of its own nickel supply chain, marks the realization of a fully self-sufficient system, from raw materials to intermediate products and the finished cathode material,' said Eom Gi-chen, CEO of Posco Future M, during the opening ceremony. 'In today's rapidly changing global supply chain landscape, the Gwangyang precursor plant will enhance the competitiveness and growth of Korea's battery industry.' The 22,400 square meter facility has an annual production capacity of 45,000 metric tons of precursor — a chemically synthesized mixture of metals used in cathode materials — enough to support battery production for 500,000 electric vehicles, the company said. The facility, which has been ramping up operations since May, was largely in operation during a media tour held the same day. The plant was filled with around 50 large metal tanks spread across the factory floor. The precursor production process involves six main steps: dissolving metals in purified water, inducing chemical reactions with catalysts to form precursor crystals, then washing, dehydrating, drying and packaging the final product. 'The reaction process is the core of precursor manufacturing, as it determines the material's density and elemental ratio, both of which are tailored to meet customer specifications,' a company official said, noting Posco Future M's flexibility in adjusting compositions to client needs. Currently, the company uses nickel, cobalt and manganese to produce precursors for NCM cathodes used in electric vehicle batteries, according to the order by Ultium Cells, a US-based 50:50 joint venture between LG Energy Solution and General Motors. 'All precursors produced at this facility are currently supplied to Ultium Cells,' the official added. The company said the timely launch was driven by growing demand from customers for China-independent supply chains, while many other battery projects have been delayed amid sluggish EV demand. The US Inflation Reduction Act disqualifies EV batteries containing materials from 'foreign entities of concern,' including China, from tax credit eligibility. This policy shift has prompted automakers to reduce reliance on Chinese suppliers, who currently dominate 90 percent of the global precursor market. To meet these evolving demands, Posco Future M said it has also secured alternative sources for raw materials used in precursor production. 'We understand the risks automakers face when their supply chains are overly concentrated in China. Regardless of cost considerations, that's where the competitiveness of our plant comes in,' said Lee So-young, head of the business strategy planning group at Posco Future M. 'As US policies continue to evolve, we're working to establish a supply chain that's less exposed to such changes, including sourcing raw materials independently of Chinese suppliers.' The plant's 10 production lines are controlled by about 10 staff members via monitors that provide a real-time overview of the process. With a high degree of automation, the company aims to enhance quality control of its cathod materials — a factor it says was more difficult to achieve when using externally sourced precursors. 'When customers request specific features, many of them cannot be achieved simply by processing third-party precursors,' Lee added. 'We believe our ability to meet those demands in both quality and cost also gives us a key competitive edge.'
Yahoo
09-06-2025
- Automotive
- Yahoo
MarketsandMarkets' 360Quadrants Recognizes Top Startups and SMEs in the EV Battery Quadrant Report 2025
DELRAY BEACH, Fla., June 9, 2025 /PRNewswire/ -- 360Quadrants has released its latest EV Battery Startups/SMEs Companies Assessment, 2025, recognizing key players, including both global giants and emerging innovators, for their excellence in market presence, product innovation, and business strategy. The report highlights that Automotive Cells Company, Ultium Cells, Morrow Batteries, and Sila Nanotechnologies Inc., among the top companies, are actively shaping the future of the EV Battery Startups/SMEs Companies Assessment. The evaluation leverages 360Quadrants' proprietary methodology to map competitive positioning across 7,000+ micro markets within 10+ industries, enabling decision-makers to make strategic, data-backed vendor choices. Company Highlights in the EV Battery Startups/SMEs Companies Assessment: Automotive Cells Company (ACC) is a fast-growing startup in the electric vehicle (EV) battery industry, founded in 2020 as a joint venture between Stellantis, Mercedes-Benz, and Saft, a subsidiary of TotalEnergies. The venture combines Saft's deep expertise in battery technology with the automotive strength of its partners to drive innovation in energy storage solutions. In May 2023, ACC inaugurated its first gigafactory in Billy-Berclau/Douvrin, France—an impressive milestone achieved just two and a half years after its inception. The facility is currently in the process of scaling up production, marking a significant step forward in Europe's push for EV battery independence. Ultium Cells, a joint venture between General Motors and LG Energy Solution, is a key player in the electric vehicle (EV) battery sector. It manufactures advanced lithium-ion battery cells for GM's Lithium-Based EV lineup, including Cadillac, Chevrolet, GMC, and Buick models. Designed for versatility, these batteries are also being developed to support future applications in sectors such as aerospace and heavy-duty trucking. Morrow Batteries ASA is a battery technology company dedicated to delivering cost-efficient and sustainable lithium-ion batteries for electric vehicles, energy storage systems, commercial transportation, and the maritime sector. Its product lineup features prismatic LFP and NMC battery cells, engineered for safety, long lifespan, and high energy density. To explore the full quadrant report and see how companies are positioned in the EV Battery Startups/SMEs Companies Assessment, 2025, Visit: Evaluation Criteria The vendor evaluation was conducted on over 30 companies, of which the top 7 were categorized and recognized as quadrant leaders. Factors such as revenue, geographic presence, growth strategies, investments, and sales strategies for the market presence of the EV Battery Startups/Small-Medium Businesses Companies Assessment quadrant. The top criteria for product footprint evaluation included Battery Type (Lithium-ion, Nickel-metal hydride, Solid-state and Other Material Type (Cobalt, lithium, natural graphite, manganese, manganese, manganese, manganese, iron, phosphate, nickel, and other material types like aluminum), and Battery Form (Prismatic, pouch, and cylindrical cells), Propulsion (BEV, PHEV, FCEV, and HEV) and Vehicle Type(passenger car, van/light truck, medium & heavy truck, bus, and off-highway vehicle). 360 Quadrants Scoring Methodology 360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons, and the aggregated scores categorize solutions into quadrants such as Progressive companies, Responsive companies, Dynamic companies, and Starting blocks. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives. Download Free Sample @ About 360Quadrants 360Quadrants, a specialized division of MarketsandMarkets™, delivers comprehensive quadrant analyses for various emerging technologies and markets, including start-ups. Our evaluation methodology hinges on two critical parameters: market presence and product footprint. This approach facilitates a graphical representation of competitive positioning across four key categories: leaders, contenders, innovators, and emerging companies. In addition, we meticulously classify start-ups into progressive companies, responsive companies, dynamic companies, and starting blocks. Our expertise equips organizations with insights into market leaders across over 6000 micro markets, enabling a detailed comparison of vendor capabilities and performance. At 360Quadrants, we ensure that each quadrant adheres to the highest standards, empowering our clients to navigate complex market dynamics precisely and confidently. 360Quadrants has also launched quadrants in fields such as – Autonomous Forklift Startups/SMEs Companies Assessment, 2025, and Farm Equipment Startups/SMEs Companies Assessment, 2025 About MarketsandMarkets MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact:Ms. Sipti Banga,630 Dundee Road, Suite 430Northbrook, IL 60062USA: +1-888-600-6441Email: Logo: View original content: SOURCE MarketsandMarkets Sign in to access your portfolio
Korea Herald
09-06-2025
- Automotive
- Korea Herald
LG chief doubles down on EV battery push with Indonesia visit
From batteries to TVs, Koo Kwang-mo outlines LG's five-year strategy during India, Indonesia site tours LG Group Chairman Koo Kwang-mo reaffirmed the conglomerate's commitment to growing its battery businesses as he visited HLI Green Power, a 50:50 battery joint venture by LG Energy Solution and Hyundai Motor Group in Indonesia, earlier this month. According to LG on Monday, Koo toured the battery cell production line at HLI Green Power and highlighted the need for solidarity and cooperation with partners to break through a stalled electric vehicle market. Located in Karawang, West Java, as the country's first EV battery manufacturing plant, HLI Green Power began operation in April last year with an annual production capacity of 10 gigawatt-hours, which is enough to power about 150,000 EVs. The joint battery plant posted a 96 percent yield rate within four months of the start of mass production. The LG chief called on the employees at the battery joint venture to gain a competitive edge and stand out in the market. Commemorating his visit, Koo wrote on a battery cell product that he hopes the battery foothold will become 'the heart of future mobility.' The visit to HLI Green followed Koo's remarks during a shareholders' meeting in March where he emphasized that LG will nurture the battery industry as a key business for itself and a future core industry for Korea. He previously visited an Ultium Cells factory, an EV battery joint venture between LG Energy Solution and General Motors, in Tennessee in June last year. 'Although the EV chasm is lasting longer than expected and the competition (with Chinese battery makers) is heating up, (Koo's visit) shows his determination to thoroughly prepare for (post-EV-chasm) times even at a moment like this,' said an LG official. The LG chief then visited LG Electronics' production and research and development offices as well as local retail stores for home appliances in Cibitung, West Java, to review the overall value chain. LG Electronics -- which produces TVs, monitors and signage at its Cibitung site for Asia, the Middle East and Africa -- established an R&D office near the Cibitung plant to mark the area as an outpost targeting the Indonesian and Southeast Asian markets. During his visit to the Cibitung plant, Koo inspected an autonomous production line for TVs and discussed LG Electronics' global R&D operational strategies for the future. The LG leader also went to Electronic City, a local retail store, to check the sales performance of LG Electronics' products, receive customer feedback about regional products, and inspect Chinese rivals' market strategies in the Southeast Asian home appliances market. 'While it is important to respond to competition, which is getting fiercer right now, we need to come up with strategies for our survival five years from now and identify the decisions we should make and where we should focus to secure our distinctive competitiveness,' said Koo in a meeting with local LG Electronics executives and employees in Jakarta.
Globe and Mail
16-05-2025
- Automotive
- Globe and Mail
GM's New LMR Battery Could Change the Game: Is it Ready to Lead?
General Motors GM is setting the stage for a big leap in EV battery innovation. The company just revealed plans for a new lithium manganese-rich (LMR) battery technology that could dramatically lower costs and boost the performance of its largest electric vehicles (EVs). If all goes according to plan, GM could become the first automaker to bring LMR prismatic battery cells to market — a move targeted for 2028. These new batteries are designed for GM's full-size electric trucks and SUVs like the Chevrolet Silverado EV and the Cadillac Escalade IQ. The LMR chemistry swaps out pricey materials like nickel and cobalt for more common and affordable manganese. This shift not only cuts raw material costs but could also help GM improve the range and weight efficiency of its EVs. GM claims that LMR batteries offer 33% higher energy density than today's top lithium iron phosphate (LFP) cells, all while maintaining comparable costs. This means more miles per charge without driving up sticker prices. Production is already on the horizon. Ultium Cells, GM's joint venture with LG Energy Solution, aims to begin preproduction in late 2027 and full commercial production in 2028. It's all part of GM's broader push to scale its Ultium platform and improve EV profitability. But GM isn't the only auto giant chasing this battery breakthrough. Ford F is also in the race, and it's moving fast. Last month, the company announced that it is developing its own LMR battery chemistry at its Ion Park R&D center in Michigan. Ford has already begun pilot production of second-generation cells and aims to roll out LMR-powered EVs before the decade ends. Ford sees LMR as the 'what's next' solution following its current use of nickel-manganese-cobalt (NMC) and LFP batteries. The company believes the chemistry could unlock longer-range, lower-cost EVs, especially crucial for scaling up mass-market adoption. Tesla TSLA, meanwhile, planted early seeds in this space. CEO Elon Musk floated the idea of high-manganese batteries as far back as 2020 during Tesla's 'Battery Day.' At the time, he said Tesla aimed to create cathodes with one-third manganese content to stretch its nickel supply further. Tesla holds patents related to LMR chemistry, but it is yet to share firm production plans. GM looks set to be the first to market with LMR batteries, Ford is close behind, while Tesla's earlier concepts still await a clear update. The Zacks Rundown for General Motors Shares of General Motors have lost around 6% year to date compared with the industry's decline of 13%. From a valuation standpoint, GM trades at a forward price-to-earnings ratio of just 5.28, significantly below the industry. It carries a Value Score of A. Image Source: Zacks Investment Research The Zacks Consensus Estimate for GM's 2025 sales and EPS implies a 6% and 12% decline, respectively, year on year. Estimates have been southbound over the past 30 days for the current and next quarter, as well as for 2025 and 2026. GM stock currently carries a Zacks Rank #5 (Strong Sell). You can see Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report This article originally published on Zacks Investment Research (
E&E News
14-05-2025
- Automotive
- E&E News
General Motors pays off DOE loan for EV battery project
The Department of Energy announced Tuesday the early repayment of a loan it had made to a major electric vehicle battery project. Ultium Cells, a joint venture between General Motors and South Korea's LG Energy Solution, has paid off the loan it received to manufacture lithium-ion batteries in Ohio and Tennessee. The move means those projects are no longer subject to the onerous requirements and check-ins that come with federal loans. GM telegraphed the early repayment earlier this month, telling investors on a phone call that it would loan Ultium $1.8 billion to pay off the federal loan. That essentially shifted the debt to GM's balance sheet. Advertisement The joint venture's 'simplified capital structure will allow it to grow and evolve with even greater flexibility,' Paul Jacobson, GM's chief financial officer, said on the call.
